We regularly act for charities and faith groups, and have sold countless premises with D1 use over the last 20 years. The recent sale of Pioneer Place in Addington though, has to rank as one of our largest single D1 transactions.
Extending to 4.8 acres, the site includes a number of buildings arranged as meeting halls, two apartments and totals approx. 15,500sqft of existing accommodation. Several derelict buildings add a further 6,500sqft, and there is parking for around 60 vehicles. Set in the Green Belt, and with a covenant restricting the use to a place of worship, it was only ever going to be sold to a faith group.
Acting on behalf of the Jehovah's Witnesses, our national marketing campaign generated considerable interest from factions of many different religions. Fortunately we were able to conduct most viewings before the Coronavirus outbreak, and whilst faith and community groups were unable to meet, their interest in securing such a key site remained strong regardless.
Offers in excess of £3.5m were invited for the vacant freehold interest, and more than a dozen bids were received. Terms were agreed with a local Muslim community group almost 30% ahead of the guide, and completion of their purchase took place in September 2020.
Our expertise in the sale of premises with D1 use is second to none. If your group has a surplus property to sell, please contact us for a free appraisal.
PROJECT ADDRESS: Pioneer Place, Featherbed Lane, Addington, Croydon CR0 9AW
